Trade on better terms
URICA early payment is a ground breaking debt free cash flow solution for SMEs funded by The British Business Bank and RSA, allowing suppliers and their customers to trade on better terms.
It improves cash flow for both parties, requires no security and no personal guarantees from either party and can be used for exports.
For a small early payment discount, we buy your invoices as early as day 1. We also take on all the risk of non-payment and give your customers extended credit of up to 90 days on your behalf, so you no longer need to.
Now you can compete and grow with confidence and still give your customers the best possible payment terms without taking on extra debt.
The early payment discount is 0.044% of the invoice value per day from your chosen early payment date to when your customer pays URICA. It includes the cost of credit insurance and there are no other costs.
Example: if you choose early payment on day 14 and give your customers 60 days credit, the early payment discount will be 2% (46 days x 0.044%).
Because we credit insure every invoice paid early you have no further credit risk and no associated debt. URICA early payment is therefore treated like outright customer settlement, strengthening your balance sheet.
This makes URICA fundamentally different to all traditional forms of debt based invoice finance.
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